Phase II Assets Gained Value, but Deals Lagged

A Deloitte Recap LLC analysis of 2012 biopharma dealmaking activity suggested a seller's market for Phase II assets, with median up-front cash of $35 million for market rights in transactions involving at least one major territory, up from a median of $30 million during the 2007-2011 time frame. However, market rights at other stages, including approval, lagged, as did the total deal flow.